SEC Reviews Grayscale's Dogecoin ETF Proposal

SEC评论Grayscale的Dogecoin ETF提案

Introduction

介绍

The Securities and Exchange Commission (SEC) has acknowledged Grayscale's filing for a Dogecoin Exchange-Traded Fund (ETF). Notably, the SEC has opted to review the proposal rather than rejecting it outright, as seen in previous altcoin ETF applications.

美国证券交易委员会（SEC）已确认格雷斯卡尔（Grayscale）提交的狗蛋白交易所交易基金（ETF）的申请。值得注意的是，SEC选择审查该提案，而不是直接拒绝该提案，如先前的Altcoin ETF应用中所示。

NYSE Arca Amendment and Regulatory Considerations

NYSE ARCA修正案和监管考虑

NYSE Arca submitted Amendment No. 1 to refine Grayscale's ETF proposal. This amendment addresses regulatory concerns to enhance compliance and market viability. Approval of the Grayscale Dogecoin ETF could increase institutional investment in DOGE, providing regulated access to a broader investor base.

NYSE ARCA提交了第一号修正案，以完善灰度的ETF提案。该修正案涉及加强合规性和市场生存能力的监管问题。认可灰dogecoin ETF可能会增加在门多格的机构投资，从而提供受监管的机会获得更广泛的投资者基础。

Grayscale's ETF Filing and Industry Engagement

Grayscale的ETF申请和行业参与

NYSE Arca initially submitted a request to the SEC on January 31, 2025, to list and trade shares of Grayscale Dogecoin Trust. This action is part of Grayscale's ongoing efforts to gain approval for cryptocurrency-based ETFs in traditional financial markets.

NYSE ARCA最初于2025年1月31日向SEC提交了请求，以列出Grayscale Dogecoin Trust的股份。这项行动是Grayscale持续努力获得基于加密货币在传统金融市场中的ETF的努力的一部分。

Other firms, such as Bitwise, REX Shares, and WisdomTree, have also submitted Dogecoin ETF applications. The surge in filings reflects the growing demand for cryptocurrency-based ETFs among institutional investors.

其他公司，例如Bitwise，Rex股票和WisdomTree，也提交了Dogecoin ETF应用程序。备案的激增反映了机构投资者中对基于加密货币的ETF的需求不断增长。

Amendment to Grayscale's Proposal and SEC's Review

修正了Grayscale的提议和SEC的评论

On February 10, 2025, NYSE Arca submitted Amendment No. 1, replacing the initial filing. The amendment modifies aspects of the ETF's structure and regulation. Unlike past altcoin ETF filings that faced swift rejections, the SEC has chosen to formally review Grayscale's application. The regulator has also established a public comment period to gather input on the proposed rule change. This action signals a greater willingness to consider cryptocurrency-based ETFs.

2025年2月10日，纽约证券交易所ARCA提交了第1号修正案，取代了初始文件。该修正案修改了ETF结构和调节的各个方面。与过去面临迅速拒绝的替代申请文件不同，SEC选择正式审查灰度的应用。监管机构还建立了公众意见期，以收集有关拟议规则更改的意见。该动作表明考虑基于加密货币的ETF的更大意愿。

Potential Market Impact and Investor Sentiment

潜在的市场影响和投资者情绪

Approval of the Grayscale Dogecoin ETF by the SEC would provide institutions and individuals with regulated access to Dogecoin. It would create both liquidity and market access for DOGE, attracting additional investors.

SEC批准灰dogecoin ETF将为机构和个人提供受管制的狗狗的机会。它将为Doge创造流动性和市场通道，吸引其他投资者。

Industry analysts believe approval would be a significant step towards institutional adoption of Dogecoin. The SEC's positive response to Grayscale's application has raised expectations for the potential rollout of more Dogecoin ETFs in the near future.

行业分析师认为，批准将是迈向机构采用Dogecoin的重要一步。 SEC对Grayscale应用的积极反应提高了人们对在不久的将来可能推出更多Dogecoin ETF的期望。